2015 Nevada Revised Statutes
Chapter 688D - Payment of Benefits Upon Death of Insured
NRS 688D.060 - “Retained asset account” defined.
“Retained asset account” means any account or other mechanism by which the settlement of any proceeds payable under a policy of life insurance is accomplished by the insurer or a person acting on behalf of the insurer by depositing the proceeds into an account with draft or check writing privileges, where the proceeds are retained by the insurer, pursuant to a supplementary contract not involving annuity benefits.
(Added to NRS by 2013, 2702)
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